Beechwood Bermuda International, Ltd. said Friday it has launched a subsidiary in United Arab Emirates (UAE),
Beechwood Bermuda Middle East (BBME).
The Beechwood companies provide investment products to clients and life, annuity and long-term care reinsurance to primary insurance companies.
BBME will market and distribute Beechwood’s Bermuda International investment products in the UAE and throughout the Middle East.
“Our expansion into the UAE builds off our success in Latin America and Asia, where advisers and clients of leading wealth management firms have demonstrated significant and growing demand for our guaranteed investment products,” Beechwood Partner and Executive Vice President of Products and Solutions David Lessing said.
Beechwood has hired Standard Life (Dubai) Head of Bank Distribution Mark Hollis as BBME’s chief executive officer. Hollis has also worked as regional director of the Middle East & Africa at P2 International (Bermuda), Ltd. and Old Mutual (Bermuda) Ltd. He brings with him more than two decades of experience in the banking, finance and insurance industries.
“My decision to join Beechwood reflects my view that Beechwood is better positioned than other firms to meet client demand in the Middle East,” Hollis said.
